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Gold/Mining/Energy : ARP - V Argentina Gold -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (1224)	11/12/1998 11:20:00 PM
From: Elizabeth Andrews	Read Replies (3) \| Respond to of 3282

Ya, but with a little (bad) luck I could give the entire win back in a hurry. I'm now long the same amount I was short. But I had a price point in mind and acted on it. Based on the anomaly, it could host 40 million tons of 3 grams or nearly 4 million ounces. If you figure that the market cap at C$2.10 is about C$125 million and a 4 million ounce deposit could support a promotional cap value of C$160 million or so, I think the stock will have another run. If it doesn't happen I won't get killed too badly. I think the period of time to get serious about ARP is next summer, when they will have completed holes in the area between Veladero and Amable. Due to the weather the company will shut down for several months and the stock is likely to settle into and accumulation phase. Then, it will be a good time to go long or forget it. I still don't believe that there will be a bidding war for the ARP equity.